Está en la página 1de 5

MARKET Diary

3-Jan-17

Market

Nifty Intraday Chart

Market
Morning Traded Market

KEY LEVELS
Support : 7890
Resistance : 8230

Value

% Change

SGX NIFTY

8,195.00

0.13%

NIKKIE

19114.37

-0.16%

HANG SENG

22,076.16

0.34%

Sensex
Nifty

26,595.45
8,179.50

-0.12%
-0.08%

DOW
NASDAQ

19,762.60
5,383.12

-0.29%
-0.91%

CAC

4,882.38

0.41%

DAX

11,598.33

1.01%

FTSE
EW ALL SHARE

7,142.83
14,728.01

0.32%
0.56%

Yesterday Closing Market

Market Outlook

Event Today
Quaterly Result
PRIMESECU : 3.1.2017

Indian Equity gave a range bound and choppy


movement through the day on Monday. After
starting with a deep negative note in the first half
session of market , next, nifty continuously rose to
make high of 8198 and nifty gave small positive
note at the end of the market . Yesterday market
saw a volatile session of trade to close at 8179.50 .
It had net loss of 0.08% of the previous days
closing. The midcap and small cap indices was
outformed of their benchmark indices. Both were
closed the day after raise by 0.93% and 1.80%
respectively.
On the sectoral front, Banking, Financial services
and, FMCG and IT stocks were on the sellers radar
whereas Auto , Media , Pharma, Metal, Realty
stock were on buyers radar. More than two shares
advanced for every share falling on the exchange
The foreign investors were the net sellers in the
cash segment and they sold Rs 260 crores worth of
equities on Monday.
Manufacturing Purchasing Managers Index (PMI)
recorded below the crucial 50 threshold for the
first time in 2016 during December, down from
52.3 in November to 49.6. It indicated that the
rupee demonetisation took a toll on manufacturing
performance. Indian auto sales data was mixed in
the month Dec 2016.
As Nifty has inched closer to resistance level of
8229, we suggest caution. Only a decisive closing
above 8229 will warrant change in our stance.

% Change in 1 day

Commodity Price ( Yesterday Closing )


Commodity/Currencies
GOLD
SILVER
CRUDEOIL
NATURALGAS
DOLLAR/RS.
EURO/RS.
POUND/RS.

Value

% Change

27570.00

0.46%

39136.00

0.22%

54.07

0.24%

251.10

0.65%

68.22

0.45%
0.18%
0.15%

71.38
83.77

% Change in 1 day

Institutional Turnover
FII
Investor

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

02-Jan-17

959

1220

(261)

Jan-17

959

1220

(261)

2017

959

1220

(261)

Buy(Cr.)

Sale(Cr.)

Net(Cr.)

02-Jan-17
Jan-17

1631
1631

1610
1610

21
21

2017

1631

1610

21

DII
Investor

Quote of the Day : "By confining himself to a relatively few, easy-to-understand cases, a reasonably
intelligent, informed and diligent person can judge investment risks with a useful degree of accuracy."
Benjamin Graham
Narnolia Securities Ltd

IEA Snapshot
MARUTI

"BUY"

3th Jan 2017

We expect current demonetization issue may not be impacting much in the long run to the passenger vehicle segment because more than
75% vehicles are financed. But this issue may be hampering sales in near future due to cash crunch in the economy. We assume volumes in
the second half may be down by 10% in comparison to the first half 2017. Higher sales of premium segment cars will further increase the
realization per car, which will in turn maintain the margins going ahead despite the rising commodity prices. Hence we have positive view
on this stock and we recommend "BUY" with a target price of Rs.6100.

IRB

"ACCUMULATE"

2th Jan 2017

Firstly EPC revenue was impacted due to heavy monsoon during Q2FY17 and secondly suspension of toll collection for the period of 24
days because of demonetization will affect the top line of the company in FY17. We expect top line of Rs. 5627 Cr (Growth of 10% YoY)
with healthy 52.7% EBITDA margin in FY17E. Significant reduction in debt post the InvIT IPO and an arbitral award will boost the bottom
line of the company. At a current price of Rs. 191 stock trades at 7.3x to FY17 expected EV/EBITDA and 1.3x to P/B. The stock has corrected
nearly 18% post demonetization announcement which makes this stock attractive at this price with present fundamentals. Hence, we
revised our rating from HOLD to ACCUMULATE with the target price of Rs.235
*For details, refer to our daily report- India Equity Analytics

Top News
Mgt Int : BAJAJAUTO
Rural demand down 20%; no respite visible yet: Bajaj Auto
>>22% decline in sales to 2.25 lakh units in December due to
demonetisation impact.
>>No recovery in sales is visible yet for the company. Impact has
more been in rural areas where demand has fallen 20%.
>>Bajaj saw pick-up in retail sales in Nigeria to 20,000 units in
December. Egyptian market, though, is going through a
readjustment phase

Welspun Enterprises is seeking shareholders' approval for buying


back up to 25 percent of its share capital at Rs 62 per equity share for
an aggregate consideration not exceeding Rs 270 crore. Welspun
Enterprises Ltd is seeking approval/consent of its members by postal
ballot (which includes e-voting) by way of special and/or ordinary
resolution

Indiabulls Housing Finance Mgt Guideline : Company said


that tier II and tier-III cities, outskirts of major cities will be
covered under the new scheme announced by the PM in his
speech on the new year eve. Company is well set for continuous
demand in housing finance sector . Indiabulls has launched a
new product between the ticket size of Rs 10-15 lakh. The new
launched product will get a huge boost from PM's recent
announcement . The company will decide on revising the
lending rate at the ALCO meet by Tuesday

Insecticides India Ltd (IIL) said it has tied up with Japan's Nihon
Nohyaku Co Ltd for launching of new generation insecticides for
different crops under the brand name SUZUKA. IIL plans to introduce
one more brand HAKKO, an insecticide for BPH in paddy crop.

Sunil Munjal, Chairman of Hero Corporate Services said that


demand in December for most consumer goods did suffer
following demonetisation. The government, however, saw
higher tax mop-up in November which shows that the economy
has seen growth. Company believes liquidity will take another 23 months to come back into the system. Industry will take
longer anywhere from 9 months to 12 or 18 months to revive.

Tata Motors sales up 2% at 40,944 units in Dec . Hero MotoCorp


sales down 33.91% in December . SML Isuzu sales up 16.4% in
December at 1,021 units

China's economic growth could slow to 6.5 percent this year from
about 6.7 percent in 2016, a government-run think tank said on
Tuesday, while suggesting a one-off devaluation could help stabilize the
yuan currency.
Spain's economic growth may have exceeded the 3.2 percent pace
officially projected by the government for 2016. De Guindos also said
Spain would be looking to maintain its net debt issuance target for 2017
at around 35 billion euros ($37 billion).

Tanzania is in talks with banking giant Credit Suisse (SIX:CSGN) for a


$300 million loan that would go towards financing infrastructure
projects
Manufacturing Purchasing Managers Index (PMI) recorded below
the crucial 50 threshold for the first time in 2016 during December,
down from 52.3 in November to 49.6.
Narnolia Securities Ltd

F&O OPEN INTEREST ( Number of Contracts )

Individual

Foreign Institutions

Domestic Institutions

Proprietary

MARKET MOVERS (1 MONTH CHANGE)

Nifty Movers

NSE Sectoral Indices Performance

Narnolia Securities Ltd

Country

Monday
2th Jan 17

INDIA

Thursday
5th Jan 17

Friday
6th Jan 17

Average Hourly Earnings


Final Manufacturing
ADP Non-Farm Employment
m/m , Non-Farm
PMI , ISM
Change, ISM NonChallenger Job Cuts y/y ,
Employment Change,
Manufacturing PMI ,
Manufacturing PMI, Crude Oil Unemployment Claims , Natural Unemployment Rate ,
Construction Spending
Inventories, FOMC Meeting
Gas Storage ,
Trade Balance , Factory
m/m, ISM
Minutes, Total Vehicle Sales.
Orders m/m , IBD/TIPP
Manufacturing Prices.
Economic Optimism.

US

UK/EURO ZONE

Economic Calendar
Tuesday
Wednesday
3th Jan 17
4th Jan 17

German Prelim CPI m/m ,


Spanish Unemployment
Spanish Manufacturing PMI ,
Change , Spanish Services
German Prelim CPI
Italian Manufacturing PMI ,
PMI, Italian Services PMI,
m/m , French Prelim CPI
Retail PMI , PPI m/m , French 10- German Factory Orders
German Unemployment
French Final Services PMI,
m/m , German
y Bond Auction , ECB Monetary
m/m , German Retail
Change, German
German Final Services PMI ,
Unemployment
Policy Meeting Accounts.
Sales m/m.
Unemployment Change,
Services PMI, Net Lending to
Change.
Construction PMI,
Individuals m/m, CPI Flash
Manufacturing PMI.
Estimate y/y.

Auto no, Nikkei


Manufacturing PMI.

Nikkei Services PMI

Narnolia Securities Ltd

N arnolia Securities Ltd


201 | 2nd Floor | Marble Arch Bu ild ing | 236B-AJC Bose
Road | Kolkata-700 020 , Ph : 033-40501500
em ail: narnolia@narnolia.com ,
w ebsite : w w w .narnolia.com

Risk Disclosure & Disclaimer: This report/message is for the personal information of
the authorized recipient and does not construe to be any investment, legal or taxation
advice to you. Narnolia Securities Ltd. (Hereinafter referred as NSL) is not soliciting any
action based upon it. This report/message is not for public distribution and has been
furnished to you solely for your information and should not be reproduced or
redistributed to any other person in any from. The report/message is based upon publicly
available information, findings of our research wing East wind & information that we
consider reliable, but we do not represent that it is accurate or complete and we do not
provide any express or implied warranty of any kind, and also these are subject to change
without notice. The recipients of this report should rely on their own investigations,
should use their own judgment for taking any investment decisions keeping in mind that
past performance is not necessarily a guide to future performance & that the the value of
any investment or income are subject to market and other risks. Further it will be safe to
assume that NSL and /or its Group or associate Companies, their Directors, affiliates
and/or employees may have interests/ positions, financial or otherwise, individually or
otherwise in the recommended/mentioned securities/mutual funds/ model funds and
other investment products which may be added or disposed including & other mentioned
in this report/message.